Use the following information for questions.
The following information relates to the pension plan for the employees of Turner Co.:

Turner estimates that the average remaining service life is 16 years.Turner's contribution was $756,000 in 2011 and benefits paid were $564,000.
-The actual return on plan assets in 2011 is

Question

Use the following information for questions.
The following information relates to the pension plan for the employees of Turner Co.:
  
Turner estimates that the average remaining service life is 16 years.Turner's contribution was $756,000 in 2011 and benefits paid were $564,000.
-The actual return on plan assets in 2011 is

Quizplus · Accepted Answer

The actual return on plan assets is calculated as the ending fair value of plan assets minus the beginning fair value of plan assets, adjusted for contributions and benefits paid. The correct calculation leads to $588,000.

Use the Following Information for Questions